Because at least 50% of the economy is B2B, and if you think about it even B2C has elements of B2B if they sell through distributors and retailers.
So why isn't B2B marketing seen the same as B2C marketing? Well I think that we as marketers have a job to do to show that marketing is just as valuable in the B2B world.
Often you find that B2B organisations are driven either by product or by sales, so marketing doesn't have that strategic seat at the table and can be seen as a support function. This podcast touches on that and why it needs to change.
"Product is important. But you don't just buy the best product, you buy the best product that you know about." Which is why marketing is so important.
When I started writing this article, I had pages of key takeaways – that's how many great insights there are in this podcast. So, I’ve done my best to distil it down to my top 5:
Strategically B2B marketing is no different to B2C, so we need to stop treating it as different
Effectiveness research shows that just telling consumers about your product features and specifications is a very ineffective strategy. Humans are not rational in their decision making and this extends to B2B sales.
Think long term, consistency in market. Brand activation drives better outcomes for sales - evidence shows that when you have great brand advertising, you hire more talent, generate more sales, it’s good for pricing power and leads to longer term success.
Think publicity not persuasion when you do advertising. Advertising is about mental availability not driving someone to purchase. "When was the last time you saw an ad and dropped everything and went out to buy a product?" It's not rational messages that get remembered, it's the creative, emotional ads that build memories, and the job is to build memories not to drive clicks.
Biggest mistake that marketers make is not being market orientated. Not caring about the customers. Understanding your customers buying situations will drive better purchase outcomes.
Take a listen, I’d be keen to hear your thoughts on the podcast (comment on our social posts that share this article), and I recommend following the B2B Institute, Peter Weinberg and Jon Lombardo on LinkedIn for lots of insightful B2B Marketing research.
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